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News & Press: Colorado Technology Industry

A Look into the World of Startups, Innovation and Entrepreneurship in Downtown

Tuesday, September 16, 2014   (0 Comments)
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A Look into the World of Startups, Innovation and Entrepreneurship in Downtown
In conjunction with Denver Startup Week, the Downtown Denver Partnership today released data that profiles the strength of entrepreneurship and innovation in Downtown Denver.

This unique data is exclusive to Downtown Denver and has not been profiled to date. This is the first analysis about the state of startups in Downtown Denver and only report that quantifies the number of startups in Downtown Denver, the amount of funding raised in 2013 by startups located in Downtown Denver and recent exits by Downtown Denver startups. Funding and exit data was generously provided by Built In Colorado.

"The numbers speak loud and clear, Downtown Denver is the place that creative, innovative and passionate people want to be to grow their startups,” said Tami Door, President and CEO of the Downtown Denver Partnership. "The center city has an incredible entrepreneurial energy that invites people to get engaged and think big, and we will continue to provide the resources and tools that help entrepreneurs and startups succeed in our community.

The numbers, which focus strictly on the core boundaries of Downtown Denver, show that:
  1. Downtown Denver is home to 373 startups employing 3,108 employees
  2. Almost $200,000,000 in funding was raised by Downtown Denver startups in 2013
  3. 7.8% of Downtown Denver businesses are startups and 79% of Downtown Denver startups have 10 or fewer employees
  4. 88 new startups were formed in 2013
"We see being in Downtown Denver as a huge competitive advantage for recruiting. The number of options for dining, arts, sports, and entertainment all within easy walking distance is a great draw for our target employees as are the numerous options for public transportation and biking that allow us to have employees live where they want and still easily get to work,” said Ben Deda, Vice President of Sales and Business Development at FullContact, a local tech startup located in the heart of Downtown Denver. "In addition, the density of other tech startups downtown, specifically in LoDo brings energy and opportunity for serendipity that is hard to find in an office park.”

National rankings show that Denver holds top positions as one of the best areas to launch startups, for high tech wages and for job creation. Also worth highlighting is the highly educated talent pool in the metro area that boasts many employees with developer and programming skills. According to Forbes, Denver is the second best place to launch a startup in America and employers have access to talent; over 11,000 millennials have relocated to the Denver metro area since 2006, more than any metro area in the US. This educated workforce supports the burgeoning startup industry in Downtown Denver.

The Partnership is committed to building a culture of Innovation and Entrepreneurship in our center city. Along with this report–published in partnership with the Colorado Technology Association (CTA), Colorado Innovation Network and Built In Colorado–the Downtown Denver Partnership continues to work toward creating this innovative environment by co-founding Denver Startup Week with CTA and the entrepreneurial community and by developing a future entrepreneurial center in partnership with CTA and the City of Denver.

Click here to view the information and statistics in full or contact the Downtown Denver Partnership at 303-534-6161 to request printed copies.

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